CHANGWON PRECISION EXTRUSIONS (KOREA) HAS BEEN ACQUIRED BY SEAH BESTEEL CORPORATION
Birmingham, Michigan – March 27, 2020 – Angle Advisors is pleased to announce that SeAH Besteel Corporation (“SeAH”) has acquired Changwon Precision Extrusions (“CPE” or the “Company”) from Arconic, Inc. (“Arconic”). Angle Advisors acted as the exclusive investment banking advisor to Arconic in completing this transaction.
Located in Changwon, South Korea, Changwon Precision Extrusions is a leading provider of hard alloy aluminum extruded products for aerospace, defense, automotive, and industrial applications. Leveraging unique hard alloy aluminum expertise and capabilities, CPE’s capabilities include aluminum casting, aluminum extrusion, heat treatment, and downstream thermal processing and testing. As one of the few global providers of hard alloy aluminum products, CPE serves both Korean and international OEMs and Tier 1 customers.
Headquartered in Seoul, Korea, SeAH is a leading global supplier of specialty steel products serving primarily automotive and industrial customers. The acquisition of CPE allows SeAH to diversify its portfolio from special steel to non-ferrous hard alloys and specialty alloys, while also strengthening SeAH’s competitive position in the Aerospace and Defense markets. For more information, please visit www.seahbesteel.co.kr.
Based in Pittsburgh, PA, Arconic Inc. engineers, manufactures, and sells lightweight metals worldwide. It operates through two segments, Engineered Products and Forgings, and Global Rolled Products. The Engineered Products and Forgings segment provides fastening systems and seamless rolled rings, investment castings, forged jet engine components, and forged aluminum commercial vehicle wheels, as well as extruded, machined, and forged aircraft parts that are used in aerospace, industrial, commercial transportation, and power generation end markets. The Global Rolled Products segment provides aluminum sheets, plates, extrusions, and machined parts used in a wide range of industrial end markets. For more information, please visit www.arconic.com.
Angle Advisors, with offices in the United States, Europe, and Asia, specializes in mergers and acquisitions with a particular emphasis on cross-border transactions and industrial sectors including the vehicular and aerospace markets. The firm’s professionals have completed 221 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.